Cowen reaffirmed their sell rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Friday.
Several other research firms also recently weighed in on TSLA. Vetr downgraded shares of Tesla from a buy rating to a hold rating and set a $331.97 price target on the stock. in a research report on Tuesday, January 9th. Cascend Securities downgraded shares of Tesla from a hold rating to a sell rating and set a $250.00 price target on the stock. in a research report on Tuesday, December 5th. Evercore ISI decreased their price target on shares of Tesla from $330.00 to $312.00 and set an outperform rating on the stock in a research report on Sunday, October 29th. Citigroup reiterated a hold rating and issued a $367.00 price target on shares of Tesla in a research report on Wednesday, November 15th. Finally, KeyCorp reiterated a hold rating and issued a $240.00 price target on shares of Tesla in a research report on Wednesday, December 27th. Eleven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $329.48.
Tesla (NASDAQ TSLA) traded up $5.45 on Friday, reaching $350.02. 4,871,140 shares of the company’s stock traded hands, compared to its average volume of 5,840,000. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Tesla has a fifty-two week low of $242.01 and a fifty-two week high of $389.61. The company has a market capitalization of $59,760.00, a P/E ratio of -40.89 and a beta of 0.94.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm earned $0.71 earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. research analysts expect that Tesla will post -11.38 earnings per share for the current year.
In related news, VP John Douglas Field sold 1,000 shares of Tesla stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $334.87, for a total transaction of $334,870.00. Following the completion of the transaction, the vice president now directly owns 20,128 shares of the company’s stock, valued at approximately $6,740,263.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $330.29, for a total transaction of $723,335.10. Following the transaction, the director now directly owns 154,419 shares of the company’s stock, valued at $51,003,051.51. The disclosure for this sale can be found here. Insiders sold a total of 15,692 shares of company stock valued at $5,026,873 over the last three months. Corporate insiders own 23.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TSLA. Janus Henderson Group PLC boosted its stake in shares of Tesla by 126.6% during the 3rd quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock worth $186,601,000 after purchasing an additional 305,596 shares during the period. Whale Rock Capital Management LLC purchased a new position in shares of Tesla during the 2nd quarter worth about $66,601,000. Ariose Capital Management Ltd purchased a new position in shares of Tesla during the 3rd quarter worth about $30,733,000. Lord Abbett & CO. LLC boosted its stake in shares of Tesla by 78.9% during the 2nd quarter. Lord Abbett & CO. LLC now owns 152,146 shares of the electric vehicle producer’s stock worth $55,018,000 after purchasing an additional 67,120 shares during the period. Finally, Global X MANAGEMENT CO LLC boosted its stake in shares of Tesla by 138.1% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 104,318 shares of the electric vehicle producer’s stock worth $35,583,000 after purchasing an additional 60,499 shares during the period. 57.13% of the stock is owned by hedge funds and other institutional investors.
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Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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